Maverick Capital Ltd. Sells 31,965 Shares of Boot Barn Holdings, Inc. (NYSE:BOOT)

Maverick Capital Ltd. reduced its position in shares of Boot Barn Holdings, Inc. (NYSE:BOOT) by 71.6% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 12,670 shares of the company’s stock after selling 31,965 shares during the period. Maverick Capital Ltd.’s holdings in Boot Barn were worth $2,119,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Thrivent Financial for Lutherans raised its stake in shares of Boot Barn by 0.4% in the third quarter. Thrivent Financial for Lutherans now owns 495,546 shares of the company’s stock worth $82,895,000 after acquiring an additional 1,834 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Boot Barn by 1.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 352,698 shares of the company’s stock worth $58,999,000 after acquiring an additional 6,335 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Boot Barn by 3.6% in the second quarter. Bank of New York Mellon Corp now owns 259,885 shares of the company’s stock worth $33,507,000 after acquiring an additional 9,126 shares during the last quarter. Tributary Capital Management LLC raised its stake in shares of Boot Barn by 0.3% in the second quarter. Tributary Capital Management LLC now owns 218,817 shares of the company’s stock worth $28,212,000 after acquiring an additional 649 shares during the last quarter. Finally, Principal Financial Group Inc. raised its stake in shares of Boot Barn by 14.3% in the second quarter. Principal Financial Group Inc. now owns 217,387 shares of the company’s stock worth $28,028,000 after acquiring an additional 27,228 shares during the last quarter.

Boot Barn Stock Performance

Shares of NYSE BOOT opened at $137.38 on Friday. The stock has a market cap of $4.19 billion, a P/E ratio of 27.59 and a beta of 2.16. The firm has a 50 day moving average price of $149.78 and a 200 day moving average price of $136.47. Boot Barn Holdings, Inc. has a 52-week low of $68.37 and a 52-week high of $169.83.

Boot Barn (NYSE:BOOT) last announced its quarterly earnings results on Monday, October 28th. The company reported $0.95 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.02. Boot Barn had a net margin of 8.73% and a return on equity of 15.89%. The firm had revenue of $425.80 million for the quarter, compared to analyst estimates of $424.42 million. During the same quarter in the previous year, the firm posted $0.91 earnings per share. The business’s revenue was up 13.7% on a year-over-year basis. Analysts predict that Boot Barn Holdings, Inc. will post 5.48 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Craig Hallum downgraded shares of Boot Barn from a “buy” rating to a “hold” rating and boosted their target price for the stock from $154.00 to $162.00 in a research note on Friday, October 25th. BTIG Research boosted their target price on shares of Boot Barn from $165.00 to $185.00 and gave the stock a “buy” rating in a research note on Tuesday, October 29th. Robert W. Baird upgraded shares of Boot Barn from a “neutral” rating to an “outperform” rating and set a $167.00 price target for the company in a research report on Wednesday, October 30th. Citigroup lowered their price target on shares of Boot Barn from $194.00 to $178.00 and set a “buy” rating for the company in a research report on Tuesday, October 29th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Boot Barn from $160.00 to $181.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 29th. One research analyst has rated the stock with a sell rating, three have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $164.55.

About Boot Barn

Boot Barn Holdings, Inc, a lifestyle retail chain, operates specialty retail stores in the United States. The company's specialty retail stores offer western and work-related footwear, apparel, and accessories for men, women, and kids. It offers boots, shirts, jackets, hats, belts and belt buckles, handbags, western-style jewelry, rugged footwear, outerwear, overalls, denim, and flame-resistant and high-visibility clothing.